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Report Date : |
30.05.2014 |
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Tel. No.: |
(852) 2954 5638 |
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Fax No.: |
(852) 2954 5618 |
IDENTIFICATION DETAILS
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Name : |
RMS INTERNATIONAL (HONG KONG) LTD. |
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Registered Office : |
Unit 1018-1019, 10/F., Peninsula Centre, 67 Mody Road, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
18.02.2010 |
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Com. Reg. No.: |
51840392 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Arts & Crafts, Stationery,
Festival Products, Toys, Premiums & Giftware |
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No. of Employees : |
12 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
HONG KONG - ECONOMIC OVERVIEW
Hong Kong has a free market
economy, highly dependent on international trade and finance - the value of
goods and services trade, including the sizable share of re-exports, is about
four times GDP. Hong Kong has no tariffs on imported goods, and it levies
excise duties on only four commodities, whether imported or produced locally:
hard alcohol, tobacco, hydrocarbon oil, and methyl alcohol. There are no quotas
or dumping laws. Hong Kong's open economy left it exposed to the global
economic slowdown that began in 2008. Although increasing integration with
China, through trade, tourism, and financial links, helped it to make an
initial recovery more quickly than many observers anticipated, its continued
reliance on foreign trade and investment leaves it vulnerable to renewed global
financial market volatility or a slowdown in the global economy. The Hong Kong
government is promoting the Special Administrative Region (SAR) as the site for
Chinese renminbi (RMB) internationalization. Hong Kong residents are allowed to
establish RMB-denominated savings accounts; RMB-denominated corporate and
Chinese government bonds have been issued in Hong Kong; and RMB trade
settlement is allowed. The territory far exceeded the RMB conversion quota set
by Beijing for trade settlements in 2010 due to the growth of earnings from
exports to the mainland. RMB deposits grew to roughly 12% of total system
deposits in Hong Kong by the end of 2013. The government is pursuing efforts to
introduce additional use of RMB in Hong Kong financial markets and is seeking
to expand the RMB quota. The mainland has long been Hong Kong's largest trading
partner, accounting for about half of Hong Kong's total trade by value. Hong
Kong's natural resources are limited, and food and raw materials must be
imported. As a result of China's easing of travel restrictions, the number of
mainland tourists to the territory has surged from 4.5 million in 2001 to 34.9
million in 2012, outnumbering visitors from all other countries combined. Hong
Kong has also established itself as the premier stock market for Chinese firms
seeking to list abroad. In 2012 mainland Chinese companies constituted about
46.6% of the firms listed on the Hong Kong Stock Exchange and accounted for
about 57.4% of the Exchange's market capitalization. During the past decade, as
Hong Kong's manufacturing industry moved to the mainland, its service industry
has grown rapidly. Credit expansion and tight housing supply conditions have
caused Hong Kong property prices to rise rapidly; consumer prices increased by
more than 4% in 2013. Lower and middle income segments of the population are
increasingly unable to afford adequate housing. Hong Kong continues to link its
currency closely to the US dollar, maintaining an arrangement established in
1983. In 2013, Hong Kong and China signed new agreements under the Closer
Economic Partnership Agreement, adopted in 2003 to forge closer ties between
Hong Kong and the mainland. The new measures, effective from January 2014,
cover services and trade facilitation, and will improve access to the
mainland's service sector for Hong Kong-based companies.
|
Source
: CIA |
RMS INTERNATIONAL
(HONG KONG) LTD.
ADDRESS: Unit 1018-1019, 10/F.,
Peninsula Centre, 67 Mody Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-2954 5638
FAX: 852-2954 5618
E-MAIL: kleung@rmsint.com
Managing Director: Mr. Leung Kam
Cheong, Ken
Incorporated on: 18th February, 2010.
Organization: Private Limited Company.
Capital: Nominal: US$1,000.00
Issued: US$1,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 12.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
RMS INTERNATIONAL
(HONG KONG) LTD.
Registered Head
Office:-
Unit 1018-1019, 10/F., Peninsula Centre, 67 Mody Road, Tsimshatsui,
Kowloon, Hong Kong.
Holding Company:-
RMS International PLC, UK.
Associated
Companies:-
Checktax Ltd., UK.
RMS Consumer Products Ltd., UK.
RMS Europe B.V., Netherlands.
RMS Far East (HK) Ltd., Hong Kong.
RMS International (Intellectual Properties) Ltd., UK.
RMS International (Shanghai) Ltd., China.
RMS International (USA) Inc., US.
RMS International UK Ltd., UK.
51840392
1423074
Managing Director: Mr. Leung Kam
Cheong, Ken
Nominal Share Capital: US$1,000.00
(Divided into 1,000 shares of US$1.00 each)
Issued Share Capital: US$1,000.00
(As per registry dated 18-02-2014)
|
Name |
|
No. of shares |
|
RMS International PLC International House, Pendlebury Road, Swinton, Manchester, M27 4GY,
UK. |
|
950 |
|
LEUNG Kam Cheong |
|
50 |
|
|
|
––––– |
|
|
Total: |
1,000 ==== |
(As per registry dated
18-02-2014)
|
Name (Nationality) |
Address |
|
Jonathan HAMMOND |
124 Cambridge Road, Southport, Merseyside PR9 9RZ, UK. |
|
LEUNG Kam Cheong |
Flat D, 38/F., Tower 7, Island Resort, Siu Sai Wan, Hong Kong. |
(As per registry dated 18-02-2014)
|
Name |
Address |
Co. No. |
|
FCS Services Ltd. |
Room 1602, 16/F.,Carnarvon Plaza, 20 Carnarvon Road, Tsimshatsui,
Kowloon, Hong Kong. |
0717230 |
The subject was incorporated on 18th February, 2010 as a private limited
liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer, Exporter and Wholesaler.
Lines: Arts & Crafts, Stationery, Festival
Products, Toys, Premiums & Giftware
Brand Name: Grafix Kids, Grafix, Christmas
Factory, IQ
Employees: 12.
Commodities Imported: China, other
Asian countries, etc.
Markets: US, UK, other European countries,
other Asian countries
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P
Nominal Share Capital: US$1,000.00
(Divided into 1,000 shares of US$1.00 each)
Issued Share Capital: US$1,000.00
Profit or Loss: Making a small profit in 2012 &
2013.
Condition: Keeping in a satisfactory manner.
Facilities: Making rather active use of
general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Normal.
RMS International (Hong Kong) Ltd. is a 95%-owned subsidiary of RMS
International PLC [UK-RMS] which is a UK-based company. The other 5% is owned by Mr. Leung Kam Cheong
who is a Hong Kong merchant. He is also
managing director of the subject.
The subject is engaged in the same lines of business as UK-RMS.
UK-RMS is engaged in the distribution of stationery and gift products in
Europe, Australasia, and the United States.
It offers Christmas and social stationery products, including calendars,
diaries, crackers, and Christmas greeting cards; children’s stationery and
activity products; novelty items and play sets; paper products comprising
sketch pads, note books, and address and practical books; durable products,
such as hole punches, staplers, and desk organizers, as well as pens, tape, and
paper clips; and arts and craft products consisting of paint brushes, paints,
canvases, art sets, clays, and dough.
UK-RMS was incorporated in 1974 and is based in Manchester, the United
Kingdom with additional offices in the United Kingdom, Europe, the United
States, Shanghai, and Hong Kong. The
Hong Kong company is the subject.
RMS Group has set up a License Division which is engaged in developing
licensed ranges across all the product groups that the company currently
offers, as well as producing bespoke items which capitalize on the particular
values of a brand or character.
RMS Group already has developed business with many licenses including:
Pink Panther, Nickelodeon, BBC, Luscious, Tweenies, Bagpuss, Slazenger and
Dunlop, etc. The Group is constantly
seeking out and acquiring new and exciting licenses.
By working closely its TV partners in China and other licensees, RMS
Group will continue to put dynamic licensed branded products into the United
Kingdom and European market place.
The subject sources commodities from China and the other Asian
countries. Most of its products bear the
following brand names: Grafix Kids,
Grafix, Christmas Factory, IQ.
The subject’s business is chiefly handled by Mr. Leung Kam Cheong,
Ken. History in Hong Kong is over four
years.
On the whole, consider the subject good for normal business engagements
in small credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.84 |
|
|
1 |
Rs.98.41 |
|
Euro |
1 |
Rs.80.03 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NNA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.